British American Tobacco ups stake in cannabis producer Organigram

What’s the right revenue per square foot? What’s a realistic business outlook for cultivators? Get realistic market forecasts, state-by-state insights and benchmarks. Get the 2023 Factbook.


British American Tobacco is investing another 6.35 million Canadian dollars ($5.1 million) in Organigram, increasing its stake in the Atlantic Canada-based cannabis producer to 19.5%, the companies announced.

Last year, British American Tobacco (BAT) sealed a strategic collaboration with Organigram via a CA$220 million investment. The partnership has a focus on research and product development.

BAT said it increased its investment by purchasing 2,659,716 Organigram common shares at an average price of CA$2.39, for gross proceeds of CA$6.35 million.

“Innovation is an important cornerstone of Organigram’s core strategy and the Product Development Collaboration with BAT underscores our commitment to the development of disruptive, consumer-focused cannabis products,” Organigram CEO Beena Goldenberg said in a statement.

“We are pleased with the successful launch of the PDC and the progress we are making so far.”

The move bolsters Organigram’s cash position of CA$168 million.

Apply to speak at MJBizCon 2023

Think you’ve got a great story, insights, or best practices to share about your cannabis business? We want to hear from you!

The MJBizCon team is now accepting speaker applications for the 2023 event in Las Vegas.

We are looking for engaging industry leaders from all sectors of the cannabis industry, whether you run a multi-state operation or a mom-and-pop business.

Apply to speak at MJBizCon today – The speaker application portal closes May 5!

Cash has become increasingly important in the Canadian cannabis industry, as capital is much harder to come by compared to previous years, when investors indiscriminately funded cannabis companies.

Organigram shares trade as OGI on the Nasdaq and the Toronto Stock Exchange.